In his presentation Pat Carroll noted that, 'Achieving product specific privacy seals from EuroPriSe is something we are very proud of. Not only does it cement our position as a global leader in data privacy and protection, but it puts us and our clients ahead of the game as the mobile/e-commerce market expands. Payment security is about balancing risk with usability, and at the same time building and maintaining trust and confidence - and that means taking a 'privacy by design' approach. Not only do our security solutions clearly meet the highest security standards, but they have privacy built in by design, further enhancing our security offering by improving customer usability and trust. Based upon the principle of "Low or No Friction", the ValidSoft solutions demonstrate that it is possible to achieve ease of use for the customer and the highest levels of security without compromising the privacy of the individual'.
ValidSoft also addressed the recent card fraud report from Europol (the European Union's law enforcement agency whose main goal is to help achieve a safer Europe for the benefit of all EU citizens), which highlights the fact that fraud on EU issued cards is running at around 1.5 billion Euro a year. Of this, 600 million Euro is attributed to card-present fraud, the vast majority of which is perpetrated outside of the EU in non EMV-compliant countries. Commenting on the proposal of Europol to 'block' transactions from non-EMV compliant countries to address these unprecedented levels of fraud, Pat Carroll commented: "the credit card world knows it's easy to stop fraud – simply decline more transactions – but that's not very consumer friendly!"
ValidSoft Limited has been a wholly owned subsidiary of Elephant Talk since early 2010, underpinning its mobile/cloud security offering. The company is a market leader in providing solutions to counter electronic fraud relating to a variety of bank, card, internet and telephone channels. ValidSoft's solutions are used to verify the authenticity of both parties to a transaction (Mutual Authentication), the security of the relevant telecommunication channel used (secure communications), and the integrity of transactions itself (Transaction Verification) for the mass market, in a highly cost effective and secure manner while being very easy to use. The company counts several leading worldwide service providers and institutions amongst its customers. ValidSoft is the only security software company in the world that has been granted three European Privacy Seals. Visit www.validsoft.com.About Elephant Talk: Elephant Talk Communications Corp. (NYSE MKT: ETAK), is a leading international provider of proprietary Software Defined Network (SDN) platforms for the telecommunications industry that empower Mobile Network Operators (MNOs) and Mobile Virtual Network Operators (MVNOs), Enablers and Aggregators with a full suite of Applications. This suite includes full OSS/BSS Systems, Delivery Platforms, Support and Managed Services, on-site, cloud, hybrid and S/PaaS solutions, including Network, Mobile Internet ID Solutions, Secure Remote Access Management, Loyalty Management and Transaction Processing Services, superior industry expertise and high quality customer service without substantial upfront investment. Elephant Talk counts several of the world's leading Mobile Operators amongst its customers including Vodafone, T-Mobile and Zain, and virtually all business is focused on tier 1 and tier 2 operators worldwide. Visit www.elephanttalk.com. Cautionary Note Regarding Forward-Looking Statements Some of the statements in this release are or may constitute "forward-looking statements." Words such as "believe," "expect," "anticipate," "project," "target," "optimistic," "intend," "aim," "will" or similar expressions are intended to identify forward-looking statements. Forward-looking statements involve estimates, expectations and projections and, as a result, are subject to risks and uncertainties. Actual results could differ materially if not substantially from those described in the forward-looking statements.